Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-3022022-07-01falseThe principal activity of the company continued to be that of sound recording and music publishing activities3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10248063 2022-07-01 2023-06-30 10248063 2021-07-01 2022-06-30 10248063 2023-06-30 10248063 2022-06-30 10248063 c:Director1 2022-07-01 2023-06-30 10248063 d:ComputerEquipment 2022-07-01 2023-06-30 10248063 d:ComputerEquipment 2023-06-30 10248063 d:ComputerEquipment 2022-06-30 10248063 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 10248063 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-06-30 10248063 d:CopyrightsPatentsTrademarksServiceOperatingRights 2022-06-30 10248063 d:CurrentFinancialInstruments 2023-06-30 10248063 d:CurrentFinancialInstruments 2022-06-30 10248063 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 10248063 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 10248063 d:ShareCapital 2023-06-30 10248063 d:ShareCapital 2022-06-30 10248063 d:RetainedEarningsAccumulatedLosses 2023-06-30 10248063 d:RetainedEarningsAccumulatedLosses 2022-06-30 10248063 c:OrdinaryShareClass1 2022-07-01 2023-06-30 10248063 c:OrdinaryShareClass1 2023-06-30 10248063 c:OrdinaryShareClass1 2022-06-30 10248063 c:FRS102 2022-07-01 2023-06-30 10248063 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 10248063 c:FullAccounts 2022-07-01 2023-06-30 10248063 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 10248063 2 2022-07-01 2023-06-30 10248063 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2022-07-01 2023-06-30 10248063 e:PoundSterling 2022-07-01 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 10248063














HAYORI MUSIC PUBLISHING LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

 
HAYORI MUSIC PUBLISHING LIMITED
REGISTERED NUMBER:10248063

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
241,042
306,042

Tangible assets
 5 
3,669
6,690

  
244,711
312,732

Current assets
  

Debtors: amounts falling due within one year
 6 
260,107
208,627

Cash at bank
 7 
57,697
166,677

  
317,804
375,304

Creditors: amounts falling due within one year
 8 
(40,545)
(40,707)

Net current assets
  
 
 
277,259
 
 
334,597

Total assets less current liabilities
  
521,970
647,329

  

Net assets
  
521,970
647,329


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
521,969
647,328

  
521,970
647,329


Page 1

 
HAYORI MUSIC PUBLISHING LIMITED
REGISTERED NUMBER:10248063
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J F Davidson
Director

Date: 16 March 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
HAYORI MUSIC PUBLISHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Hayori Music Publishing Limited is a private company, limited by shares, registered in England and Wales, registration number 10248063. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.

The principal activity of the company continued to be that of sound recording and music publishing activities

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each year end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash are presented in the Profit and Loss Account within 'administration expenses'. All other foreign exchange gains and losses are presented in Statements of Comprehensive Income.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from sound recording and music publishing activities are recognised when it is probable the company will receive the rights to the consideration due under the contract.
Royalties receivable are recognised at the year end date by the company.

 
2.4

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Interest income

Interest income is recognised in Statement of Comprehensive Income using the effective interest method.

Page 3

 
HAYORI MUSIC PUBLISHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
HAYORI MUSIC PUBLISHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

  Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

 Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.12

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

 Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors, trade and other creditors, and loans with related parties.

 
2.14

 Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 -2).

Page 5

 
HAYORI MUSIC PUBLISHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Intangible assets




Catalogue

£



Cost


At 1 July 2022
650,000



At 30 June 2023

650,000



Amortisation


At 1 July 2022
343,958


Charge for the year on owned assets
65,000



At 30 June 2023

408,958



Net book value



At 30 June 2023
241,042



At 30 June 2022
306,042




5.


Tangible fixed assets





Computer equipment

£



Cost


At 1 July 2022
9,319


Additions
99



At 30 June 2023

9,418



Depreciation


At 1 July 2022
2,629


Charge for the year on owned assets
3,120



At 30 June 2023

5,749



Net book value



At 30 June 2023
3,669



At 30 June 2022
6,690

Page 6

 
HAYORI MUSIC PUBLISHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Debtors

2023
2022
£
£


Trade debtors
6,492
4,636

Other debtors
170,447
117,771

Prepayments and accrued income
63,029
70,237

Deferred taxation
20,139
15,983

260,107
208,627



7.


Cash

2023
2022
£
£

Cash at bank
57,697
166,677



8.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
2,802
2,805

Corporation tax
12
-

Other taxation and social security
12,877
15,252

Other creditors
255
-

Accruals
24,599
22,650

40,545
40,707



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 -1) Ordinary share of £1.00
1
1


The share has attached to it full voting, dividend and capital distribution, including on winding up, rights and are not redeemable.

Page 7

 
HAYORI MUSIC PUBLISHING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

10.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. The pension cost charge represents contributions payable by the company  to the fund and amounted to £1,094 (2022 -£Nil). Contributions totalling £255 (2022 -£Nil) were payable to the fund at the reporting date and are included in creditors.


11.


Transactions with directors

During the year the company advanced £168,414 (2022 - £151,542) to the directors, of which £117,248 (2022 - £140,968) was repaid to the company by the directors. As at the year end, the directors owed £155,458 (2022 - £104,292) to the company. The loan is interest free, unsecured and repayable on demand. 

 
Page 8